MUNICH, July 7 Bavaria hopes to finalize a
comprehensive settlement of multiple court cases relating to
Austrian “bad bank” Heta by October, Finance Minister
Markus Soeder said on Tuesday.

He added that even if Bavaria would have won all law suits
with respect to Heta, it would unlikely have gotten more than
the 1.23 billion euros ($1.35 billion) that Austria is now
offering.

Bavaria has claims of 2.4 billion euros resulting from the
acquisition of the then Hypo Alpe Adria by Bavarian bank
BayernLB in 2007, Soeder said.

Ever since Hypo Alpe Adria’s nationalisation by Austria in
2009, BayernLB had said that its remaining money in the bank was
a loan which needed repayment, while Austria had argued the
money should be seen as loss-absorbing equity.
($1 = 0.9111 euros)

(Reporting by Irene Preisinger; writing by Arno Schuetze;
Editing by Kirsti Knolle)